$14 to $58? Major Drilling Group: Supercylcle + REE + ATH Gold&Silver, M2 supply

Major Drilling is a high leverage play on the potential new exploration supercycle, as the West seeks independence from China in critical minerals and rare earth elements.

Demand for metals like copper, nickel, lithium, silver, and rare earths is rising due to military technology, AI infrastructure, robotics, and electrification.

Strong gold and silver prices further support exploration budgets. This is expected to drive junior and senior mining companies to drill extensively. Major Drilling benefits as a global market leader with 45 years of experience in precision core drilling, and its archaeology services provide an edge in permitting and community relations.

During the 2010 cycle, the stock traded at 21 CAD. Adjusting for the US M2 money supply expansion of about 2.79 times since 2007 gives a conservative price target of roughly 33 to 36 CAD.

The theoretical peak adjusted for money supply would be above 58 CAD. Current price is around 13.60 CAD, with a market cap of approximately 1.1 billion CAD.

The next earnings report on December 10 could act as a catalyst.

Risks include exploration cycle volatility, execution challenges with fleet and labor expansion, and macroeconomic slowdowns that could delay project starts.

Nfa. Dyor.